ISLAMABAD: Car sales in Pakistan saw a notable increase in August 2024, with a total of 8,699 units sold, representing a 15% year-on-year (YoY) and 1% month-on-month (MoM) rise, according to the Pakistan Automotive Manufacturers Association (PAMA). This growth brings the total sales for the first two months of the fiscal year 2025 (2MFY25) to 17,288 units, marking a 36% YoY increase from 12,670 units during the same period last year.
Topline Pakistan Research attributes this growth to the introduction of newer car variants in the market and the impact of a lower base effect. Among the standout performers, Sazgar Engineering Works Limited (SAZEW) recorded a staggering 606% YoY and 9% MoM increase in sales, reaching 953 units in August 2024. This marks the second-highest monthly sales figure for SAZEW, just behind the 967 units sold in January 2024.
Honda Atlas Cars (HCAR) also posted strong results, with sales rising to 1,148 units, a 70% YoY and 23% MoM increase. Indus Motor Company (INDU) followed suit with 2,129 units sold, reflecting a 38% YoY and 28% MoM growth. The sales of popular models such as Corolla, Yaris, and Corolla Cross surged by 40% YoY and 42% MoM, while City and Civic models saw an impressive 118% YoY and 35% MoM increase in August 2024.
Conversely, Hyundai Nishat Motor experienced a 24% YoY decline in sales but managed a 12% MoM rise, totaling 591 units in August 2024. Pakistan Suzuki Motor Company (PSMC) faced a challenging month, with sales dropping by 14% YoY and 18% MoM to 3,653 units.
In the motorcycle segment, sales of two-wheelers and three-wheelers in Pakistan increased by 18% YoY and 23% MoM, reaching 104,234 units in August 2024. Atlas Honda (ATLH) led the market with 90,500 units sold, reflecting a 21% YoY and 29% MoM rise.
The tractor segment showed mixed results, with Millat Tractors (MTL) witnessing a 50% YoY decline but a 101% MoM rise in sales, totaling 1,218 units. Al Ghazi Tractors (AGTL) recorded sales of 1,452 units, down 7% YoY but up 70% MoM, bringing the total tractor industry sales to 2,670 units—a 33% YoY decrease but an 83% MoM rise.
Truck and bus sales saw an 83% YoY increase but experienced a slight 2% MoM decline, with 300 units sold in August 2024. The overall growth in the automobile sector reflects a gradual recovery, driven by consumer demand for new models and favorable market conditions.
